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What is the EAR (effective annual rate) of 10% compounded monthly? A. 9.27% B. 10.00% C. 10.25% D. 10.38% E. 10.47%

What is the EAR (effective annual rate) of 10% compounded monthly?

A.
9.27%

B.
10.00%

C.
10.25%

D.
10.38%

E.
10.47%

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